Author: NBTC
Key Points: Despite the successful launch of the iShares Bitcoin Trust, with assets reaching $200 billion, financial advisors are hesitant to adopt US spot Bitcoin ETFs in client portfolios. Financial advisors cite market timing and regulatory compliance as primary reasons for their reluctance to recommend US spot Bitcoin ETFs. Nearly six months after the launch of the US spot Bitcoin ETF, there is little evidence that financial advisors are eager to include these funds in their clients’ portfolios, according to CNBC. US Spot Bitcoin ETFs Show Slow Advisor Adoption Despite $200 Billion Milestone 2 Financial Advisors Slow to Embrace US…
OpenAI’s annualized revenue rose more than 110% to $3.4 billion over the past six months, The Information reported Wednesday, citing an internal communication from CEO Sam Altman. The growth suggests that businesses have been quick to adopt the firm’s technology despite rising competition. The San Francisco-based company reported annualized revenue of $1.6 billion at the end of 2023, up from $1 billion in September, says the report. At the time, the startup made between $80 million and $130 million in revenue per month. Annualized revenue is an estimate of the total amount of money that a firm generates over a…
In a recent X post, Charles Hoskinson shared important updates regarding the Cardano blockchain. Particularly, the founder of Cardano stated that this month will see the release of a new node, a crucial step toward the next major hard fork, named Chang. This forthcoming event is not merely a technical upgrade but a leap toward decentralized governance within the Cardano ecosystem, as was previously stated. Hoskinson outlined that for the hard fork to proceed, around 70% of ADA stake pool operators must successfully transition to the new node version. Hoskinson envisions widespread participation in the governance of Cardano, facilitated by…
Tesla shareholders sued CEO Elon Musk and other executives for enriching xAI at the auto company’s expense on June 13. The plaintiffs claimed that xAI, an artificial intelligence firm Musk created in 2023, has poached employees from Tesla, diverted at least $500 million in GPUs from Tesla to X, and used Tesla’s data for xAI development without compensating Tesla. The plaintiffs also cited a tweet in which Musk stated that he would move AI efforts away from Tesla unless he obtained 25% voting control in the automaker. Plaintiffs said: “Musk publicly threatened that he would divert corporate opportunities away from…
What’s modularity anyway? Modularity is the result of a curious experiment playing out in Ethereum as a reaction to the poor scaling properties of blockchains. To address this bottleneck, developers have taken the radical approach of auctioning off core functions of the main chain to… other blockchains. Centered around rollup technology, this modular transformation has completely redefined how products and services are built on top of Ethereum. Breaking apart every element of the stack allows different architectures to be designed according to their use cases. Understandably this has led to a proliferation of… blockchains. I kid you not. Everyone is…
Yesterday, Nostr users from around the US came together at New York City’s premiere Bitcoin bar PubKey for Nostr Village, a mini-conference focused on the open protocol that enables global, censorship-resistant social media and more. Who’s coming to #NostrVillage tomorrow?It’s a day of censorship resistant value for value creative expression and zaps, and it’s all happening at PubKey starting at 2 PM.Meet your favorite nostriches, and ask anything!Can’t make it for the whole event? Come by at 6 PM for… pic.twitter.com/SkCecbzJdR — PUBKEY (@PubKey_NYC) May 30, 2024 The name of the conference included a nod to the neighborhood in which…
Major investors in real-world asset tokenization projects like Ondo Finance (ONDO) and Jasmy Coin (JASMY) have recently made significant withdrawals from the cryptocurrency exchange Coinbase, signaling a potential shift in market sentiment despite recent losses. Through an update on X platform, crypto-surveillance service “The Data Nerd” drew attention to significant movements of ONDO and JASMY tokens from the U.S.-based exchange Coinbase. Using data from Arkham Intelligence, the market watcher revealed that a whale recently transferred 1.5 million ONDO tokens, valued at approximately $1.93 million, to cold storage. At the same time, the data indicated that the investor similarly moved 120…
Coinbase objected to the SEC’s $2.6 billion budget request for the 2025 fiscal year. In a statement to CryptoSlate on June 13, a Coinbase representative said: “Yet again the SEC asks for more money that will go to regulation by enforcement when it has used none of its massive budget for real crypto rulemaking that would actually foster regulatory clarity.” The SEC’s multi-billion dollar budget request includes $812.4 million allocated to enforcement, up from $675.6 million in 2024. SEC chair Gary Gensler said the budget would increase the SEC’s Divison of Enforcement by 27 full-time equivalent (FTE) positions to 1,447.…
XSwap has adopted Chianlink’s CCIP for its new XPay tool, ensuring secure and efficient onchain payments with top security and easy integration for cross-chain transactions. The integration of Chainlink CCIP into XSwap’s ecosystem represents a significant enhancement in security and cross-chain transaction capabilities. Chainlink has confirmed its position as the industry-standard protocol for secure cross-chain value transfers with its latest use case. XPay, developed by XSwap, is now utilizing Chainlink’s Cross-Chain Interoperability Protocol (CCIP) to facilitate onchain payments. XSwap expressed its excitement about the launch of XPay, a robust tool designed for cross-chain transactions, promising top security powered by Chainlink…
Martin expressed optimism about Bitcoin ETFs, highlighting their potential and the resources they’ve already brought to Wall Street Lynn Martin, president of the New York Stock Exchange Group, expressed this optimism at Consensus 2024 when asked about the launch of Bitcoin (BTC) ETFs and the potential they hold for Wall Street. She cited the resources they have already brought to the market. “We’ve been having conversations with the SEC for more than six years about Bitcoin ETFs,” Martin said in an interview. “I think you can’t argue with the success of Bitcoin ETFs and the liquidity it has brought to…